Press Release / Technology / Sound Reinforcement Market : Industry Trends and Technology Update 2024

Sound Reinforcement Market : Industry Trends and Technology Update 2024

According to the new market research report "Sound Reinforcement Market by Product Type (Microphones, Professional Speakers, Audio Mixers, Power Amplifiers), Format (Digital, Analog), End User (Corporate, Education, Large Venue & Events, Hospitality), Geography - Global Forecast to 2024", The sound reinforcement market is projected to reach USD 8.5 billion by 2024, from USD 7.3 billion in 2019; it is expected to grow at a CAGR of 3.2% from 2019 to 2024. The growth of the sound reinforcement market can be attributed to the growing incorporation of IoT and audio-visual technologies into professional audio-video devices and the increasing demand for professional audio devices from corporate and educational institutions. Moreover, the increasing number of concerts and live performances worldwide is expected to create significant growth opportunities for the sound reinforcement market.

Browse 96 market data Tables and 29 Figures spread through 129 Pages and in-depth TOC on "Sound Reinforcement Market - Global Forecast to 2024"


Download PDF Brochure @

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=224304067



The corporate segment of the sound reinforcement market is projected to grow at the highest CAGR from 2019 to 2024.

In the corporate sector, most of the modern boardrooms/conference rooms/huddle rooms are adopting audio-visual technology to enable improved collaboration and productive meetings by ensuring smooth communication between the speaker and the audience. Moreover, the requirement for introducing and promoting e-learning programs to enhance skill development in the corporate sector is also driving the growth of the corporate segment of the sound reinforcement market.

The professional speakers segment to hold the largest size of the sound reinforcement market from 2019 to 2024.

The use of professional speakers in sound reinforcement systems is gaining popularity globally owing to rise in the number of live concerts and outdoor events. Advancements in professional audio visual technologies are changing the business of organizing music events in a significant way. The global live concert industry is expected to experience significant growth during the next few years. Sound amplification systems and advanced speakers are gaining immense traction worldwide owing to their use in large venues and concerts for communicating with a large base of audiences or fans. Thus, the growing demand for high-quality music, especially in outdoor events such as concerts and shows, is expected to drive the growth of the professional speakers segment of the sound reinforcement market.

The sound reinforcement market in APAC is expected to witness rapid growth during the forecast period.

Countries such as China, India, Japan, and Australia are major contributors to the growth of the sound reinforcement market in APAC. These countries are expected to witness increased demand for sound reinforcement systems owing to initiatives undertaken by their governments to encourage the digitalization of various systems. Moreover, the rise in demand for sound reinforcement systems from several end users such as commercial real estate, hospitality, corporate, and music from countries such as China, Japan, and India is also fueling the growth of the market in APAC. Moreover, the shifting consumer preference for live music concerts and exhibitions in emerging economies is also contributing to the growth of the sound reinforcement market in APAC.

Major players in the sound reinforcement market covered in this report are Audio-Technica (Japan), Bose (US), HARMAN (US), MUSIC Group (Philippines), SENNHEISER (Germany), SHURE (US), Sony (Japan), Yamaha (Japan), CODA Audio (Germany), and Audix Microphone (US).



About MarketsandMarkets™



MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.



Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.



MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:


Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441